HDB Financial Services IPO Live Updates: Overall subscription at 21%; Employee portion fully booked

HDB Financial Services IPO Live Updates: The ₹12,500 crore initial public offering (IPO) of HDB Financial Services, the largest of the year so far, has opened for subscription today. The unit of HDFC Bank, India's largest private lender is set to offer shares in a price band between ₹700-740 per share. Watch this space for all the live updates.

HDB Financial Services IPO Live Updates: The ₹12,500 crore initial public offering (IPO) of HDB Financial Services, the largest of the year so far, has opened for subscription today. The unit of HDFC Bank, India's largest private lender is set to offer shares in a price band between ₹700-740 per share. Ahead of the opening of the IPO, the non-bank lender raised over ₹3,300 crore from anchor investors including LIC, Goldman Sachs, Blackrock and 22 domestic mutual funds. At the higher end of the price band, HDB Financial will be valued at over ₹61,000 crore. Investors can make bids in lots of 20 shares and in multiples thereafter. The issue will close for subscription on Friday, June 27. Most of the analysts who have covered the IPO, have issued a "subscribe" recommendation to the issue, citing growth prospects and the HDFC pedigree. On the valuation front, HDB Financial appears cheaper compared to peers like Chola Investment and Bajaj Finance, while appearing expensive in comparison to Shriram Finance. Watch this space for all the live updates.